Real Estate

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Brian MillerReal Estate Editor

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January 23, 2020

On the Block: Metropole plan goes from boutique hotel to boutique offices

The new owner of the vacant, derelict Metropole Building shared its office conversion plans yesterday with the Pioneer Square Preservation Board. The nonprofit Satterberg Foundation paid about $5.5 million last June for the property at 423 Second Ave. Extension S., on the corner of Yesler Way in Pioneer Square.

Matt Aalfs of BuildingWork previously created a boutique hotel conversion plan for the old ownership, associated with Seneca Ventures, and he's now designing the conversion to cowork office space for nonprofits. The restoration will probably also include a child care center, meeting/events space with commercial kitchen and room for pop-up retail by local gallerists or crafts makers.